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Author Question: Mid City Products Inc. (MCP), developed standard costs for direct material and direct labor. In ... (Read 66 times)

jrubin

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on: Mar 6, 2021
Mid City Products Inc. (MCP), developed standard costs for direct material and direct labor. In 2017, MCP estimated the following standard costs for one of their most popular products.

Budgeted quantityBudgeted price
Direct materials7 pounds$7.30 per pound
Direct labor0.50 hours$10.00 per hour
During September, MCP produced and sold 2,000 units using 14,400 pounds of direct materials at an average cost per pound of $7.00 and 950 direct labor hours at an average wage of $10.40 per hour.

The direct labor flexible-budget variance during September is ________.
◦ $120.00 favorable
◦ $120.00 unfavorable
◦ $520.00 favorable
◦ $520.00 unfavorable
Horngren's Cost Accounting: A Managerial Emphasis ¦ Datar, Rajan ¦ 16th Edition
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Marked as best answer by jrubin on Mar 6, 2021

chreslie

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Reply #1 on: Mar 6, 2021
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jrubin

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Reply 2 on: Mar 6, 2021
Excellent

tandmlomax84

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Reply 3 on: Yesterday
Wow, this really help

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